12 sats \ 6 replies \ @aoeu 24 Sep 2023 \ parent \ on: "I can't pay my rent with bitcoin" they said. Here you have a solution! bitcoin
Out of curiosity, did you structure rent to fixed fiat amount and then the sats that you pay fluctuates or did you structure it based on a fixed sats amount that would hopefully be able to be lowered over time as its purchasing power increases?
for the moment he wanted to stick with fiat value and paid in sats at the current rate.
But we've discussed about making a fix price in sats.
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Makes sense. I used a fixed fiat when I was paying rent as well for a couple years. To my FIL, but it was still cool that he took sats.
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slowly we are conquering the world. One by one...
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We do not conquer the lands, we conquer the hearts. - Mehmed II
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How do you calculate the value when you switch to sats?
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Until bitcoin is the standard, I'm happy just basing my rent payment on a USD value. Let's say rent is $1000/month right now. That is roughly 4 million sats. I would MUCH rather send the equivalent of $1000 in rent rather than a fixed sat amount because if the USD value of BTC doubled, then I would much rather send 2 million sats for rent rather than 4 million.
It will get interesting in the future because currently we are "okay" with or rather used to rent going up a bit each each. In a bitcoin world, you'd almost have to envision a world where your rent goes down in sats each year as the purchasing power of it keeps going up.
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